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Consultant will be hired for GIM 2024, says minister Thangam Thennarasu


The Government of Tamil Nadu will shortly appoint a consultant for the Global Investors’ Meet (GIM) scheduled to take place in Chennai on 10th and 11th January 2024.

“Soon we will open the bidding to appoint a consultant for GIM 2024. We want to host the event in a structured way. And to have a sectorial strategy”, said the Minister of Industries, Investment Promotion and Trade, Thangam Thennarasu.

Stating that GIM 2024 would not be a random MoU signing event, he said, “A large number of MoUs will be signed with significant investment commitments, which will help the State achieve its $1 trillion savings target by 2030 ”. This will be the first GIM for the DMK government. The two previous editions were organized by the AIADMK government in 2015 and 2019.

At GIM 2024, the State intends to focus more on startups and emerging sectors. And micro, small and medium-sized companies too. Mr. Thennarasu said, “We need to have equal growth – when we bring in big companies, we must ensure that MSMEs are supported simultaneously.”


Launch in Davos

The minister, who returned from the World Economic Forum (WEF) in Davos, said: “The meetings held last year [at last year’s annual meeting] started to yield investments, some of which you will hear about soon.” He added: “Last year has been about exploring new partnerships. This year, we met new potential investors. Priority was also given to strengthening the relationship with existing investors. Davos was our launch pad for GIM 2024.”

To a question about investor sentiments because of an impending global recession, Thennarasu said that when giving presentations to companies in Davos, “we cite examples from the COVID-19 pandemic.” “Despite the pandemic, the state managed to maintain growth. We made sure the business ran smoothly and we also made sure everyone in the industry was vaccinated as a priority,” he added.

During the trip to Davos, the Tamil Nadu team met Juvencio Maeztu, Deputy CEO and CFO of Ingka Group, which includes IKEA. The minister said that IKEA wanted to expand further. “They were interested in Coimbatore. This was a preliminary discussion, but we’ll talk to them in detail shortly. Nothing has been decided or concluded. We told them about the furniture park in Thoothukudi and shared with them the details of the ecosystem being developed there.”

On Tuesday, Mr. Thennarasu, along with S. Krishnan, Additional Chief Secretary, Industries, Investment and Trade Promotion, and Pooja Kulkarni, Managing Director and CEO, Guidance, met with Chief Minister MK Stalin and briefed him on the meetings and discussions that the team had at WEF last week.